The inaugural day of the “Step Dubai 2026” conference concluded successfully, in strategic partnership with Dubai Internet City. The event attracted over 8,000 participants, including founders, investors, decision-makers, and technology leaders, with a focus entirely on artificial intelligence and its global economic impact.
Commenting on the role of Dubai Internet City in promoting AI-driven innovation, Ammar Al Malik, the Executive Vice President of Tecom Group’s commercial sector and General Manager of Dubai Internet City, highlighted that AI has become a pivotal factor influencing the establishment and expansion of businesses and ensuring their sustainability.
He stated, “Step Dubai provides a leading global platform that brings together entrepreneurs, investors, and decision-makers to exchange innovative ideas, challenge conventional concepts, and build new partnerships.”
Dubai Internet City reaffirms its commitment to providing a comprehensive ecosystem and advanced infrastructure that enables companies to translate innovation into sustainable growth, establishing itself as a leading destination for top global and regional tech firms.
Ray Daghim, co-founder and CEO of Step, a global platform focused on technology and startups, confirmed that “Step Dubai 2026” succeeded in attracting over 8,000 participants and investors from 400 startups, pointing out that the festival offers investment opportunities worth $12.6 billion.
In exclusive remarks during the festival at Dubai Internet City, Daghim emphasized that “Step Dubai 2026” positions the emirate as a crucial platform for connecting startups and entrepreneurs with investors within a highly efficient business environment.
Beyond being merely a tech gathering, it serves as a market mechanism for accelerating deal-making and directing capital towards scalable projects.
Daghim noted that the festival reflects the confidence in the emirate’s ecosystem, enhancing its status as a global technology hub and a strategic gateway to rapidly growing markets. This aligns with the UAE’s 2031 AI strategy, converting it into tangible economic value and investment opportunities.
He further emphasized that the festival builds upon a 13-year legacy of linking startups and entrepreneurs with investors, turning the national ambition in AI into concrete market realities.
Additionally, it provides a unique platform for business dialogues that lead to partnerships and investments by connecting founders, investors, large corporations, and policymakers. Importantly, it reinforces Dubai’s position as not just a market but as a global center for access to the Global South—aspiring to match leading innovation hubs such as Silicon Valley.
Investors and Funding
Regarding the economic impact expected from attracting over 8,000 participants and investors, representing $12.6 billion in available capital, Daghim explained that this would manifest through accelerated deal-making, increased investment in UAE-based businesses, and the creation of new job opportunities.
Thanks to its extensive network of investors, Step Dubai bolsters Dubai’s role as a global investment gateway for rapidly growing markets in the Global South, drawing recurring capital, talent, and sustainable economic activity.
The festival also stimulates the growth of AI-based startups within the country, playing a crucial role in speeding up the growth of these companies by bridging the gap between innovation and market entry.
It connects entrepreneurs with investors and partners from corporations and relevant governmental entities, providing a launch platform from Dubai to global and emerging markets.
Moreover, it supports the diversification of the non-oil economy and enhances the contribution of the digital economy to GDP through supporting sectors reliant on AI like fintech, e-commerce, health tech, and climate solutions. By attracting global capital and firms, Step Dubai aids in expanding the digital economy and creating high-value jobs.
Artificial Intelligence
Regarding the notable AI innovations highlighted at “Step Dubai 2026,” Daghim listed key areas including practical AI innovations, generative AI to boost institutional productivity, AI-supported financial infrastructure, autonomous logistics, and AI solutions for healthcare, climate, and government services, with a strong emphasis on technologies designed for global scalability.
He asserted that the UAE has progressed from merely adopting AI to building an economy centered around it, as AI is now integrated into various sectors such as governance, finance, logistics, and services. The scale of ambition, investment, and implementation seen in Dubai is increasingly competitive with that of established innovation environments.